The University of Newcastle, Australia
Available in 2020
Course code



10 units


2000 level

Course handbook


Financial Accounting for Reporting Entities develops two main themes for students. Firstly, it introduces various theoretical models of accounting and accounting policy choice and secondly it investigates selected applied issues in financial accounting. Students develop extended accounting knowledge and skills, analysing multiple sources of information to support their accounting outcomes and conclusions.

Availability2020 Course Timetables


  • Semester 1 - 2020

Newcastle City Precinct

  • Semester 1 - 2020
  • Semester 2 - 2020

PSB Singapore

  • Trimester 2 - 2020 (Singapore)
  • Trimester 3 - 2020 (Singapore)

Learning outcomes

On successful completion of the course students will be able to:

1. Identify the theoretical constructs of contemporary financial accounting

2. Demonstrate selected accounting standards, including the ability to apply such standards in appropriate circumstances

3. Investigate and evaluate issues surrounding contemporary accounting controversies

4. Analyse, evaluate and synthesise both quantitative and qualitative information to inform accounting practice, choice and decision


The topics in this course include the following:

  1. Theories of Financial Accounting including the Conceptual Framework
  2. Accounting for Assets including Biological Assets
  3. Accounting for Liabilities
  4. Revenue Recognition
  5. Accounting for Leases
  6. Accounting for the Extractive Industries
  7. Preparation of External Financial Reports including Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Financial Position and Statement of Cash Flows
  8. Other Disclosure Issues


Students must have successfully completed ACFI1002. If you have successfully completed ACFI2002, you cannot enrol in this course.

Assessment items

In Term Test: In Term tests

Quiz: Mid Semester Quiz

Written Assignment: Preparation of Financial Statements

Formal Examination: Final Examination

Contact hours

Ourimbah, Newcastle City Precinct and PSB Singapore

Integrated Learning Session

Face to Face On Campus 2 hour(s) per Week for Full Term starting in week 1

Students are expected to complete 4 hours of guided learning via online preparation, lectures, interactive workshops, tutorials, discussion groups or self-directed learning and an additional 6 hours of independent study per week.